My usual position at Savings & Loans is General Manager of Business Services & Technology, which means I’m responsible for, among other things, the way we use technology to best serve our members.
We’re always looking at ways of making it easier for members to deal with Savings & Loans. Increasing the amount of services we offer online is a great way of doing this.
While there are a lot of exciting opportunities for us to use the internet to make the credit union accessible, banking and finance is a heavily-regulated industry and technology often moves faster than rules and regulations. A great example of this is electronic statements.
We’ve been excited by the benefits of letting our members receive their statements online for some time, but we want to make sure we have a complete, secure and robust system in place before we launch the service. One of the issues we encountered was that different legislation and rules covers different types of accounts – while some accounts could have statements sent online, others required us to provide hard copies.
One of the things we want to avoid is members receiving one statement through our website, and the other in their letterbox. Having said that, these legal obstacles have been overcome, and we’re hoping to launch online statements early next year.
As well as being much more environmentally-friendly, electronic delivery of statements can offer the Credit Union significant savings in mailing and printing costs.
Here’s a quick run-down of other plans we have for increasing online services:
- We’re currently completely redesigning the Savings & Loans website. The new site will have increased functionality and will aim to meet the latest standards in useability and accessibility
- Soon you’ll be able to apply for loans and credit cards online with Savings & Loans. While much of the process will be automated, we’ll still be on hand to discuss any questions you might have
- Online card activation
- New and ‘smarter’ savings and loans calculators
- The ability to become a member of Savings & Loans online. New members will be able to provide us with their details over the internet and have their identity verified at Australia Post. While we’re still committed to opening more branches, this will make it easier for people from right across Australia to take advantage of Savings & Loans’ products and services.
We’re always making alterations and enhancements to what we offer online. Recent examples include the ability to choose what kind of emails you’d like to receive from us and the addition of new tables to compare our range of loans.